Atlanta Project Thread IV

[smArTaLlone]

https://www.bizjournals.com/atlanta/news/2024/10/03/motto-by-hilton-proposal.html

Hilton recently confirmed it would flag the project as a Motto by Hilton, which is not yet in Atlanta. The site is 524 West Peachtree St., a property across the street from Emory University Midtown Hospital and its Winship Cancer Institute.

Motto aims to offer affordability in urban areas. It does so with smaller, more efficient rooms. Some 221 units would be branded as part of the Motto, according to planning documents. Another 140 units are also planned, but it's not clear if they are for hotel or residential use.

Horizon Hospitality Management Inc. is the developer of the project, says Hilton. A representative for Horizon Hospitality declined to speak Atlanta Business Chronicle.

[joecool]

They're going to reno/refurbish, not demo the building I hope.

[AtlHeel]

Originally Posted by joecool

They're going to reno/refurbish, not demo the building I hope.

Sadly, that building was demolished several years ago. the site is a blank slate.

[joecool]

Originally Posted by AtlHeel

Sadly, that building was demolished several years ago. the site is a blank slate.

Oh! I thought it was this one:

image hosting

[smArTaLlone]

https://saportareport.com/wellstar-and-a...reports/maria_saporta/?mc_cid=45e909ab73

Wellstar Health System announced Thursday morning that it is partnering with the Integral Group to redevelop the former hospital site on Boulevard in the spirit of implementing the land-use plan approved last month by the Atlanta City Council.

The conceptual plan, which includes housing, retail, greenspace with a health and wellness component, has also received support from Atlanta Mayor Andre Dickens and various community groups.

[joecool]

I assume most of the existing buildings will just be converted, no?

[newuserbuckhead]

Originally Posted by joecool

I assume most of the existing buildings will just be converted, no?

Doesn't look like it from the sketched master plan. Most of those buildings would be incredibly expensive to retrofit into residential or office. Likely cheaper to knock it down and start over.

[shivtim]

Demolition of 529, 537, and 543 Boulevard was on the Beltline DRC, for a new affordable housing development.

[testarossa50]

Originally Posted by newuserbuckhead

Doesn't look like it from the sketched master plan. Most of those buildings would be incredibly expensive to retrofit into residential or office. Likely cheaper to knock it down and start over.

There’s a 5-story historic-looking building in there I wish they would save. It’s completely surrounded by other buildings—impossible to see from any right of way.

[shivtim]

Parking lot north of the Varsity is under contract with Landmark Properties. Student tower proposed. Examples of their highrise projects in Atlanta include the Standard, The Mark, and Legacy at Centennial. Appears to be about 32 stories if the render is accurate.

Edit - WhatNowAtlanta is reporting 200 beds, but I'm not sure how that could be correct if the rendering is even close to accurate. Student housing is very dense; similar towers in Atlanta have between 400 and 800 beds.
Edit2 - This source says 2,000 beds.

[joecool]

That would be amazing. I have been waiting for something to go there. Would really help that little pocket. Not too fond of the design tho.

[jayden]

Good to see that lot being filled. Good density.

[smArTaLlone]

From the Business Chronicle ...

Athens-based Landmark Properties has the land under contract. It is planning a 2,000-bed student housing project that would overlook Georgia Tech’s Bobby Dodd Stadium, the company confirmed to Atlanta Business Chronicle.

It would be challenging to finance an apartment tower in Midtown right now because of high construction costs and an oversupply of new units, which is causing rents to dip. But student housing remains hot.

https://www.bizjournals.com/atlanta/news...opment-student-housing-georgia-tech.html

[L.ARCH]

Two thousand people on one block is pretty amazing.

[Newnan_Eric]

For this student tower near the Varsity, it looks like it won't quite fill the block to 3rd Street. So, the tunnel pub building may remain. Unfortunately, the tackier, fake Olympic Torch also stays. That and the nasty bathhouse next to the highway on the next block are relics of a trashier time.

I won't miss the dialysis clinic, but this will obliterate the building that once housed the infamous 688 Club. It was Atlanta's answer to CBGB's in NY. A lot of famous Punk Bands played there back in the day.

[edg1]

Wonder how many more towers can they fit in Midtown for student housing?

A smart developer would buy the rights over North Ave MARTA Station and build housing on the top of it.

I wonder when will The Varsity get redeveloped into a high-rise?


Why don't the developers 12th and Midtown turn that lot on 12th st next to the Google building into student parking?

It's good seeing more people out walking in Midtown. Starting to feel like a real city but we still have a ways to go but we are definitely improving!

[Terminus]

Originally Posted by edg1

Wonder how many more towers can they fit in Midtown for student housing?

I'm hearing that it will be extremely difficult, if not impossible to get funding for market-rate apartments in the City of Atlanta for several years. One of the biggest factors is that city itself has the among the highest "bad rent" rates of any US city.

[joecool]

Originally Posted by Terminus

I'm hearing that it will be extremely difficult, if not impossible to get funding for market-rate apartments in the City of Atlanta for several years. One of the biggest factors is that city itself has the among the highest "bad rent" rates of any US city.

I assume that means this won't be breaking ground anytime soon.

[testarossa50]

Originally Posted by Terminus

I'm hearing that it will be extremely difficult, if not impossible to get funding for market-rate apartments in the City of Atlanta for several years. One of the biggest factors is that city itself has the among the highest "bad rent" rates of any US city.

What does this mean? not doubting it, I just have never heard the term bad rent before. Is it like a delinquent tenant, an apartment that can't rent at the rate assumed by financing, or what?

[edg1]

Originally Posted by joecool

I assume that means this won't be breaking ground anytime soon.

they are talking about regular apartments and not student dorm rooms